Indian-owned South Korean SUV maker Ssangyong Motor signed a licensing agreement with a Saudi Arabian company at the weekend to locally assemble its vehicles in the country from 2020, according to reports in South Korea.

Mitsubishi Fuso Truck and Bus has appointed Al Habtoor Motors as an additional distribution partner in Saudi Arabia. This multi-distributor approach is a well-established practice in highly competitive markets like the GCC region, and will help the Fuso brand to expand its customer base and market share in the Middle East.

The Saudi new car market is set to take a big hit following reports that the government has introduced unprecedented austerity measures due to the recent fall in the oil price. All government departments are understood to have been instructed to cease purchases of major items, including vehicles and furniture, according to sources quoting an internal memo issued by King Salman to the Ministry of Finance.

Saudi Arabia's Automotive Division of its National Industrial Clusters Development Programme (NICDP), says today's (11 December) letter of intent (LOI) inking with Jaguar Land Rover (JLR) has raised speculation around 4,500 jobs could be created should production start.